Adell Harriman & Carpenter Inc. Sells 120 Shares of Target Co. (NYSE:TGT)

Adell Harriman & Carpenter Inc. cut its holdings in shares of Target Co. (NYSE:TGT) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,750 shares of the retailer’s stock after selling 120 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Target were worth $372,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Blue Trust Inc. boosted its stake in Target by 47.7% in the fourth quarter. Blue Trust Inc. now owns 4,983 shares of the retailer’s stock valued at $674,000 after acquiring an additional 1,609 shares during the last quarter. GFG Capital LLC bought a new stake in Target in the fourth quarter valued at about $385,000. Asset Planning Inc acquired a new position in Target in the fourth quarter valued at about $520,000. Banque Pictet & Cie SA boosted its holdings in Target by 52.7% during the fourth quarter. Banque Pictet & Cie SA now owns 94,520 shares of the retailer’s stock worth $12,777,000 after buying an additional 32,627 shares during the last quarter. Finally, White Pine Capital LLC grew its position in shares of Target by 0.4% during the 4th quarter. White Pine Capital LLC now owns 21,127 shares of the retailer’s stock worth $2,856,000 after buying an additional 93 shares during the period. Institutional investors own 79.73% of the company’s stock.

Target Price Performance

NYSE:TGT opened at $127.86 on Friday. The company has a market cap of $58.58 billion, a P/E ratio of 13.56, a P/E/G ratio of 2.04 and a beta of 1.15. The firm’s fifty day moving average price is $135.20 and its two-hundred day moving average price is $143.34. Target Co. has a one year low of $120.21 and a one year high of $181.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The company had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the company posted $2.10 EPS. Equities analysts expect that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be issued a dividend of $1.12 per share. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 annualized dividend and a yield of 3.50%. Target’s payout ratio is currently 47.51%.

Analysts Set New Price Targets

Several research firms recently weighed in on TGT. Oppenheimer reissued an “outperform” rating and set a $165.00 price objective on shares of Target in a research note on Monday, November 25th. Wells Fargo & Company cut their target price on shares of Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Bank of America decreased their price target on shares of Target from $195.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Piper Sandler dropped their price objective on Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. Finally, Evercore ISI decreased their target price on Target from $165.00 to $130.00 and set an “in-line” rating for the company in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $157.70.

Target Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.